The Central Problem of Economics The central problem of economics is to satisfy the people's and nation's wants.# l6 a: v- c: m" X/ T$ [: P6 r5 k4 }
The problem we are faced with is that our resources, here identified as money, are __1__. The only way we can resolve our problem is to make choices. After looking at our resources, we must examine our list of __2__ and identify the things we need immediately, those we can postpone, and __3__ we cannot afford. As individuals, we face the central problem involved in economics-deciding just how to allocate our limited our limited resources to provide __4__ with the greatest satisfaction of our wants.0 Z- B1 J9 ]# D# _, l
Nations face the same problem. As a country's population ___5__, the need for more goods and services grows correspondingly. Resources necessary to production may increase, but there __6__ are enough resources to satisfy the total desires of a nation. Whether the budget meeting is taking place in the family living room, in the conference room of the corporation __7__ of directors, or in the chamber of the House of Representatives in Washington, the basic problem still exists. We need to find __8__ of allocating limited resources in order to satisfy unlimited wants. 4 W, _9 `- s% M+ n3 T A short time ago economists divided goods into two categories, free and economic. The former, like air and water, were in __9__ abundance that economists had no concern for them. After all, economics is the __10__ of scarcity and what to do about it. Today many of these “free goods” are __11__ very expensive to use. Pollution has made clean air and water expensive for producers' extra costs, and __12__ taxpayers who pay for the government's involvement in cleaning the environment.* l( H. j" k/ _: n' G4 u7 X& |: B0 I
In the 1990s, almost all goods are __13__. Only by effort and money __14__ obtained in the form people wish. 4 L& O( X) O) j$ ~0 R Meeting needs of people and the demands from resource available __15__ the basic activity of production. In trying to meet unlimited wants from limited economic goods, production leads to new problems in economics.7 }5 ?3 H+ g% n5 u
EXERCISE:( E# M% k- _& L
1. A) limited B) unlimited C) scarcity D) abundant & \8 L( Q: x: J6 W 2. A) want B) problem C) wants D) resources3 Q5 M2 B* i K6 |! f6 o
3. A) those B) some C) others D) many# B8 T- M- E; N! h/ O6 N$ M6 A
4. A) them B) themselves C) ourselves D) ours 8 Y/ ^' X9 F4 T9 e/ f 5. A) expand B) extends C) grows D) increase : X7 H% I* H1 U' x" B9 @* w; R5 A 6. A) always B) sometimes C) often D) never 4 f: D. E6 z# `3 R6 ^8 [ 7. A) management B) function C) board D) group 0 Y& U" L8 D ?4 G B! X 8. A) people B) economists C ) way D) methods9 M0 O. r5 Y7 [# L+ Y D+ f
9. A) so B) great C) such D) such an / w7 v; `. }* o& i9 N# | 10. A) form B) study C) means D) source' v6 g$ g& f! s9 b4 h: G) b7 \1 n
11. A) practically B) in practice C)in reality D) practicably/ h/ D% ?% u0 U' F
12. A) the B)/ C) for D) with来自www.Examw.com+ [0 ]& u8 }! Q" ]6 C9 p/ a
13. A) plentiful B) scarce C) abundant D) in full supply & g% C+ G+ R1 d5 c2 {, r 14. A) they can be B) can they be C) they must be D) must they be" o8 B3 K/ n8 J3 L5 y9 @7 Y
15. A) are led to B) leads C) lead to D) leads to9 f: H) Z* C! i7 @ i( M
KEY: ( }& R U" f H6 l6 T A C A C C D C D C B C C B B D